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REGISTERED NUMBER: 03166241 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Peninsula Property Investments Limited

Peninsula Property Investments Limited (Registered number: 03166241)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peninsula Property Investments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P D Rance
Mrs M Rance





SECRETARY: Mrs M Rance





REGISTERED OFFICE: 25 Inglethorpe Street
London
SW6 6NS





REGISTERED NUMBER: 03166241 (England and Wales)





ACCOUNTANTS: Chancellers LLP
64 Wilbury Way
Hitchin
Hertfordshire
SG4 0TP

Peninsula Property Investments Limited (Registered number: 03166241)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,121 11,561
Investment property 5 4,800,000 4,980,000
4,807,121 4,991,561

CURRENT ASSETS
Cash at bank 305,463 211,013

CREDITORS
Amounts falling due within one year 6 83,687 79,151
NET CURRENT ASSETS 221,776 131,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,028,897

5,123,423

CREDITORS
Amounts falling due after more than one
year

7

(3,504,978

)

(3,607,061

)

PROVISIONS FOR LIABILITIES (424,990 ) (358,360 )
NET ASSETS 1,098,929 1,158,002

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,098,927 1,158,000
SHAREHOLDERS' FUNDS 1,098,929 1,158,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Peninsula Property Investments Limited (Registered number: 03166241)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





P D Rance - Director


Peninsula Property Investments Limited (Registered number: 03166241)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Peninsula Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Peninsula Property Investments Limited (Registered number: 03166241)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 30,132
DEPRECIATION
At 1 April 2022 18,571
Charge for year 4,440
At 31 March 2023 23,011
NET BOOK VALUE
At 31 March 2023 7,121
At 31 March 2022 11,561

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,980,000
Revaluations (180,000 )
At 31 March 2023 4,800,000
NET BOOK VALUE
At 31 March 2023 4,800,000
At 31 March 2022 4,980,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2018 2,170,001
Valuation in 2019 1,929,999
Valuation in 2020 100,000
Valuation in 2021 600,000
Valuation in 2022 180,000
Valuation in 2023 (180,000 )
4,800,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 3,105,454 3,105,454

The investment properties were valued on an open market basis on 21 July 2023 by Sanderson Weatherall .

Peninsula Property Investments Limited (Registered number: 03166241)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 7,454 7,454
VAT owed back to HMRC - 17,941
Amounts owed to participating interests 5,725 6,925
Taxation and social security 46,082 10,753
Other creditors 24,426 36,078
83,687 79,151

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 1,730,426 1,806,398
Other creditors 1,774,552 1,800,663
3,504,978 3,607,061

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 1,767,098 1,793,209

Repayable by instalments
Bank Loan 1,722,681 1,791,858

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 1,737,880 1,813,852

The bank loan is secured by a first charge on the freehold investment properties owned by the company and a fixed and floating charge over all the company's assets and undertakings.

9. RELATED PARTY DISCLOSURES

There was a loan outstanding at the year end of £783,972 (2022 £783,972) to Mrs C Rance who is the mother of the director Mr P Rance.

The company is a wholly owned subsidiary of Peninsula Holdings Limited.The company was controlled throughout the current and previous period by the director and his wife Mrs M Rance by virtue of the fact that they owned 100% of the issued share capital of Peninsula Holdings Limited.